REG - Inchcape PLC - Directorate Change

InchcapeAnnouncement

28/11/2022 07:00

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RNS Number : 6998H  Inchcape PLC  28 November 2022

 

 

Inchcape plc

Chief Financial Officer update

Inchcape plc ("Inchcape" or the "Group") today announces that Gijsbert de
Zoeten, Group Chief Financial Officer, has voluntarily tendered his
resignation, and will be standing down from the Board with immediate effect.
This follows an incident at a recent event where, through a lapse in
judgement, he displayed personal behaviour falling short of the high standards
expected of the leadership of the Group.  His decision is unrelated to the
company's financial performance or strategic direction, including the Derco
acquisition. The Class 1 Circular to shareholders is expected to be published
later today, and will reaffirm the Group's 2022 outlook and the expected
timetable to completion of the Derco transaction, as detailed in our
announcement on 27 October 2022.

In keeping with the company's succession planning, Adrian Lewis, currently
Group Financial Controller, has been appointed Acting Group Chief Financial
Officer.  A process to identify a permanent successor is being initiated.

 

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Notes for editors

Details of outstanding remuneration payments due to Mr de Zoeten will be
available on www.inchcape.com (http://www.inchcape.com) in accordance with
section 430(2B) of the Companies Act 2006.  He will not receive any payment
for loss of office.

Adrian Lewis, Acting Chief Financial Officer

Adrian Lewis joined Inchcape in 2015, initially as CFO for the Emerging
Markets region where he played a leading role the Indumotora acquisition and
integration, at the time Inchcape's most significant acquisition for many
years. Adrian subsequently moved to Singapore as CFO for the Asia Pacific
region, Inchcape's most profitable region. In October 2020, Adrian returned to
the UK to lead the finance function as Group Financial Controller.  Prior to
Inchcape Adrian held various senior finance roles at Tesco.

Adrian is a CIMA qualified chartered accountant.

 

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